Ethereum's Wyckoff Breakout: $10K Target in Sight
Ethereum's Wyckoff pattern signals a potential breakout to $10,000.
Ethereum has formed a Wyckoff accumulation pattern, signaling a potential breakout to $10,000.
This development places Ethereum on the cusp of a significant price expansion. If the pattern holds, the cryptocurrency could see a dramatic rise in value.
On the 2-day candlestick chart, Ethereum's price action aligns perfectly with the Wyckoff model. It has moved through preliminary, secondary, and now tertiary stages of accumulation.
The next phase is critical. Ethereum must break out of the current range to confirm the pattern. Failure to do so could invalidate the setup and lead to a price drop.
This analysis comes from crypto analyst Merlijn The Trader, who shared the chart on X. His assessment highlights Ethereum's readiness for the next bullish move.
The implications are huge. A successful breakout could propel Ethereum to new heights, rekindling interest in Ethereum and the broader Defi ecosystem.
Watch closely. The coming days will determine whether Ethereum can maintain its structure and achieve the $10,000 target.
James focuses on decentralized governance, DAOs, and on-chain voting mechanisms. He has contributed to Snapshot and other open-source governance tools, advising projects on token-based governance design and voting system implementations.
